Purpose

This study aims to investigate the ways that human capital influences the strategic orientation variables entrepreneurial orientation (EO) and market orientation (MO), which ultimately leverage the firm performance of small and medium enterprises (SMEs) in Indonesia.

Design/methodology/approach

This study used a quantitative method with a total of 274 SMEs in the Regency of Gresik, East Java, Indonesia, as the observable population. Furthermore, the identified samples obtained through the random sampling technique were determined using the Slovin formula with 163 SMEs used for analysis. As the means of analysis, this study used a statistical approach by using PLS-SEM statistics from SmartPLS software. This analytical tool has been proven to be a robust statistical tool that has been used in many marketing studies.

Findings

This study found that human capital is a key determinant of EO and MO as strategic orientations of SMEs. Furthermore, this study highlighted that SMEs’ strategic orientations (i.e. EO and MO) provide a valuable thrust that leverages firm performance. Moreover, the role of human capital in leveraging firm performance was found to be significant with the role of the joint effect of EO and MO as mediator. This implies that human capital is not solely a single determinant that leverages SMEs’ performance.

Research limitations/implications

There are few aspects of limitations in this research that could be enhanced by other scholars in the discipline of entrepreneurship. First, the strategic orientation concept being indicated by EO and MO had yet to provide a comprehensive view of strategic orientation. Second, this research used samples that represent the traditional furniture cluster in East Java and had yet to explore other clusters such as food processing and services cluster which may be relevant to the context of SMEs in Indonesia.

Practical implications

As a practical implication, this study would benefit policymakers in Indonesia, such as the Ministry for Cooperatives and SMEs to provide assistance to SMEs to progressively nurture capacity-building through formal and informal education to leverage human capital. Moreover, it could benefit other relevant businesses, such as national banks in Indonesia whose interests are significant, especially in providing financial access to SMEs in Indonesia.

Social implications

The social implication of this research lay the focus on the suggestion by which SMEs must be able to optimize their capabilities by enhancing levels of human capital particularly for traditionally managed SMEs. The ability to survive external pressures for would be able to contribute to the social well-being of their society as many people are dependent heavily in the operation of the SMEs.

Originality/value

The significance of this study is twofold. Although the use of human capital as a determinant of firm performance has been discussed in the literature, few studies to date has sought to predict human capital with EO and MO as mediators of firm performance. Furthermore, the joint impact of EO and MO as a strategic orientation needs to be holistically explored and explained, particularly in an emerging economy context.

中文翻译：

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印度尼西亚中小企业的战略定位及其在人力资本与绩效之间的联系作用

目的

本研究旨在调查人力资本影响战略导向变量创业导向（EO）和市场导向（MO）的方式，最终影响印度尼西亚中小企业（SME）的企业绩效。

设计/方法论/途径

本研究采用定量方法，以印度尼西亚东爪哇省 Gresik 县共 274 家中小企业为观察群体。此外，通过随机抽样技术获得的识别样本采用斯洛文公式确定，并使用 163 个 SME 进行分析。作为分析手段，本研究采用了利用SmartPLS软件的PLS-SEM统计的统计方法。该分析工具已被证明是一种强大的统计工具，已在许多营销研究中使用。

发现

本研究发现，人力资本是中小企业战略导向EO和MO的关键决定因素。此外，本研究强调中小企业的战略方向（即EO 和MO）提供了利用公司绩效的宝贵推动力。此外，我们发现人力资本在杠杆企业绩效中的作用非常重要，EO 和 MO 的联合效应作为中介。这意味着人力资本不仅仅是影响中小企业绩效的单一决定因素。

研究局限性/影响

这项研究的局限性很少，可以由创业学科的其他学者来加强。首先，EO和MO所表明的战略定位概念尚未提供全面的战略定位视图。其次，本研究使用代表东爪哇传统家具集群的样本，但尚未探索可能与印度尼西亚中小企业背景相关的其他集群，例如食品加工和服务集群。

实际影响

作为实际意义，这项研究将使印度尼西亚的政策制定者受益，例如合作社和中小企业部向中小企业提供援助，通过正规和非正规教育逐步培养能力建设，以利用人力资本。此外，它还可能使其他相关企业受益，例如利益重大的印度尼西亚国家银行，特别是在为印度尼西亚中小企业提供金融服务方面。

社会影响

这项研究的社会意义集中在建议中小企业必须能够通过提高人力资本水平来优化其能力，特别是对于传统管理的中小企业。由于许多人严重依赖中小企业的运营，因此抵御外部压力的能力将能够为其社会的社会福祉做出贡献。

原创性/价值

这项研究的意义是双重的。尽管文献中已经讨论了使用人力资本作为企业绩效的决定因素，但迄今为止很少有研究试图以 EO 和 MO 作为企业绩效的中介来预测人力资本。此外，需要全面探讨和解释 EO 和 MO 作为战略方向的共同影响，特别是在新兴经济背景下。